The complex, known as Escondido Valley Center, stands at 1348-1366 West Valley Parkway. Encompassing 46,110, it is occupied by 15 tenants. Anchors here include Sports Authority, Staples and Tweeter.
The undisclosed 1031 exchange buyer has procured the retail complex from AP Escondido Corp. CB Richard Ellis' Private Client Group of Newport Beach brokered the transaction.The San Diego retail market continues to hold its own this year, having "resisted a downturn in the face of a weakened economy," according to a report by Marcus & Millichap Real Estate Investment Brokerage Co. that ranked the region as number two among 35 retail markets in 2002. Placing behind only Washington, DC this year, San Diego actually moved up one rank from Marcus & Millichap's 2001 report.
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